New Delhi, July 23 (IANS) Finance Minister Nirmala Sitharaman on Tuesday kept India’s FY25 capex outlay unchanged at Rs 11.11 lakh crore, as earmarked in the Interim Budget in February.
This is higher than last year’s revised estimate of Rs 9.5 lakh crore.
The Finance Minister announced that the government will end up spending 3.4 per cent of the Budget on capex compared with 3.2 per cent in the previous year and almost double of what it spent five years ago.
The government’s capital expenditure for FY24 stood at Rs 9.5 lakh crore, an increase of 28.2 per cent on a YoY basis, and was 2.8 times the level of FY20.
The capital expenditure by private companies has picked up in the financial year ending March this year compared to FY23, according to the Economic Survey.
The Gross Fixed Capital Formation (GFCF) continues to emerge as an important driver of growth, as indicated by its rising share of nominal GDP.
The government’s thrust on capex has been a critical driver of economic growth amid an uncertain and challenging global environment. The focus of capex has been broad-based. Government capex has also begun to crowd in private investment.
–IANS
na/dan
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
